IGX

For the past week, the world of higher education has been buzzing about Oregon, where state legislators have taken the first step towards a radical attempt at combating student debt. The proposed "Pay It Forward" plan is catchy as it is seemingly straightforward. Colleges would no longer charge their undergraduates tuition up front. Instead, students would promise to pay a fixed percentage of their income to the state for a set number of years after graduation.

You earn a lot, you pay a lot. You earn a little, you pay a little. But most importantly, nobody has to take out loans to cover the cost of classes.

http://www.theatlantic.com/business/arc ... ee/277644/

Turdacious wrote:

For the past week, the world of higher education has been buzzing about Oregon, where state legislators have taken the first step towards a radical attempt at combating student debt. The proposed "Pay It Forward" plan is catchy as it is seemingly straightforward. Colleges would no longer charge their undergraduates tuition up front. Instead, students would promise to pay a fixed percentage of their income to the state for a set number of years after graduation.

You earn a lot, you pay a lot. You earn a little, you pay a little. But most importantly, nobody has to take out loans to cover the cost of classes.

http://www.theatlantic.com/business/arc ... ee/277644/

Poor students will still need to borrow to pay for book and general living expenses. Students with financial means will end up paying more on the back end than they ever would have paid if allowed to hand over cash up front. Talented individuals and anybody looking for a career in science or engineering or business would stop considering public schools. Tax payers end up paying more on the front end and more paperwork is generated trying to track everybody after they graduate.

That's a win-win-win-win-win situation, folks.

Can't get to the article from my droid. Does out talk about controlling costs too, or just about revenues?

They will still find a way to fuck this shit up.

nafod wrote:Can't get to the article from my droid. Does out talk about controlling costs too, or just about revenues?

Not really. It does say that if colleges don't have the ability to raise tuition, they will trim expenses but nothing beyond that.

I would love to see something like this work out but I am with Shaf. They will fuck this all up.

The military industrial complex is buying and selling student debt...this is why the problem won't be fixed.

I love Oregon, but I definitely see this turning into a few doctors, lawyers and businessmen paying for a ton of liberal arts and philosophy majors to go to school.

snatch grip wrote:I love Oregon, but I definitely see this turning into a few doctors, lawyers and businessmen paying for a ton of liberal arts and philosophy majors to go to school.

I see it as giving those students an incentive to go to school in Washington (where, by reputation, the top schools are almost always better than the top schools in Oregon-- with the possible exceptions of OHSU and Reed), leaving the liberal arts and philosophy majors to go to school in Oregon.

http://www.aph.gov.au/About_Parliament/ ... chive/hecs

How HECS Works
Persons seeking to enrol in award courses at higher education institutions are required to complete and return to the institution a Payment Options Form. This Form nominates if they are going to pay their HECS up-front and receive a 25 per cent discount, or if they are going to defer their payment by asking the Commonwealth to pay their HECS for them. If they pay up-front, then the Commonwealth pays the remaining 25 per cent to the institution from the HECS Special Account. If they choose to defer payment, then they must provide the institution with their tax file number so that the Tax Office can be informed of their HECS debt.

The HECS debt is indexed using the Consumer Price Index each year. The adjustment is made on June 1 and applies to that portion of the debt that has remained unpaid for a year or more. No interest is charged on HECS debt.

HECS debtors are required to begin repaying their loans when their 'HEC repayment income' reaches the compulsory repayment threshold. HEC repayment income is defined as taxable income plus any reportable fringe benefits and any reductions for net rental loss (i.e. income cannot be reduced through the negative gearing of rental property). HECS repayment thresholds are adjusted each year to reflect changes in average weekly earnings. It is possible to defer the compulsory repayment if it can be demonstrated that such payments would cause serious financial hardship.

It is also possible to make voluntary repayments at any time. For voluntary repayments in excess of $500, a bonus of 15 per cent is added to the repayment.

Voluntary repayments and payments made through the tax system are paid into the HECS Special Account. Any shortfall between these repayments and the payments made out of the HECS Special Account for loans or discounts is covered by a Commonwealth contribution to the Account. The DEST Annual Report has an appendix containing financial data relating to the HECS Special Account. Current and former Annual Reports can be obtained from this page.

HECS debts are cancelled at death. There is no requirement for the deceased person's family or beneficiaries to repay any remaining debt.

Sounds stupid. What's to keep someone from getting a top-notch education and then bailing for better job prospects overseas somewhere? Or to get a top-notch education costing 100's of 1000's and then deciding "Eff it, I don't want to work for the man. I want to hitchhike around the world and find my inner Me."? Or what's to guarantee the tards getting the diplomas will even amount to anything? Who foots the bill when all these tards realize their diplomas are worthless? Stupid idea.

It's better than the student loan bubble that is going to be bursting soon.

At least someone is thinking about another way.

Yes, it very well could get fucked up, so can anything.

As much as I think the Feds need to be in less things, this could work if they were involved as per Kraj's concern.

You try to fuck 'em on your loan the IRS reams you up the ass, so unless you do the Bruce Banner and roam around, working under the table jobs, so you'd be fucking yourself, you will be paying back the loan.

And if you do haul ass overseas, you either pay it or when you comes back, the IRS reams you up the ass.

Some will figure out a way to get away with fraud (there is no perfect anything) but the numbers would be pretty low, and it's better than what is going on now and what it's going to do in the next few years, with massive defaults.

This is going to be a colossal fuck up.

This be another way of helping the poor get ahead in life and go to school without a bunch of colour line quota bullshit.

With 3 kids, all who I require to go to college or a tradeschool for a damn good trade , or the military (but I would prefer if they pick that to do college first) when they get out of HS if they want to remain in my good graces and be allowed to step in the house. I like this idea.

I'd love this to go nationwide, so JMU or GMU is an option for this, so it's no big deal for my kids to live at home while in school, especially my daughter.

Like nearly all things government, this will be a real nasty clusterfuck. I don't want to see this go any further than Oregon.

Of course, we'll do something like this in California to show everyone just how badly this sort of thing can be fucked up.

This is just another solution to keep the status quo going. The reality is that the whole basis of "higher education" is outdated. We don't need new ways of paying for education, we need new ways of achieving education -- ways that don't include paying some ivory tower retard a six figure salary to put together a lesson plan and sit in his office while his TAs run the class. In the modern age, all a "student" needs is an iPad, access to the internet, and a place to occasionally take a test in person. There's no need for elaborate teaching halls, stuffy professors pulling huge salaries for what amounts to adult babysitting, huge dorm complexes to house students, etc. It's all a scam.

Kraj 2.0 wrote:This is just another solution to keep the status quo going. The reality is that the whole basis of "higher education" is outdated. We don't need new ways of paying for education, we need new ways of achieving education -- ways that don't include paying some ivory tower retard a six figure salary to put together a lesson plan and sit in his office while his TAs run the class. In the modern age, all a "student" needs is an iPad, access to the internet, and a place to occasionally take a test in person. There's no need for elaborate teaching halls, stuffy professors pulling huge salaries for what amounts to adult babysitting, huge dorm complexes to house students, etc. It's all a scam.

A lot of what you say is true, but that will not change anytime soon, so since the ticket punch is so important,I like that someone is thinking if another way to pay for it. It's still a loan, but one that actually gets paid back.

Kraj 2.0 wrote:This is just another solution to keep the status quo going. The reality is that the whole basis of "higher education" is outdated. We don't need new ways of paying for education, we need new ways of achieving education -- ways that don't include paying some ivory tower retard a six figure salary to put together a lesson plan and sit in his office while his TAs run the class. In the modern age, all a "student" needs is an iPad, access to the internet, and a place to occasionally take a test in person. There's no need for elaborate teaching halls, stuffy professors pulling huge salaries for what amounts to adult babysitting, huge dorm complexes to house students, etc. It's all a scam.

Can't argue with this much

I teach college math for an online college. I'll be pushing my kids to take this route while gaining some valuable work experience and figuring out what they want to do with their lives. Most people don't really know what they want until they start working and/or graduate school.

snatch grip wrote:I love Oregon, but I definitely see this turning into a few doctors, lawyers and businessmen paying for a ton of liberal arts and philosophy majors to go to school.

Kraj 2.0 wrote:This is just another solution to keep the status quo going. The reality is that the whole basis of "higher education" is outdated. We don't need new ways of paying for education, we need new ways of achieving education -- ways that don't include paying some ivory tower retard a six figure salary to put together a lesson plan and sit in his office while his TAs run the class. In the modern age, all a "student" needs is an iPad, access to the internet, and a place to occasionally take a test in person. There's no need for elaborate teaching halls, stuffy professors pulling huge salaries for what amounts to adult babysitting, huge dorm complexes to house students, etc. It's all a scam.

^^^^These two^^^^^^

Let it all burn!